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Dec 10, 2012
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if this tax break goes away as part of the so-called fiscal cliff, those homeowners could be taxed on that $95,000 as additional income starting in 2013. >> how much homeowners will owe in taxes on that amount depending on the tax bracket they're in. on average it would be between 20 to $25,000. the banks have an extra incentive to stel short and absorb the loss. under the national mortgage settlement act that went into effect earlier this year, the nation's biggest lenders get a credit for short sales as a form of foreclosure relief. foreclosures sell for $3700 less than homes via short sale. as we near the fiscal cliff you could expect short sales jump more as homeowners look it to aavoid gigt hit with tacks and bankss with foreclosed prormts. if we go over the cliff, the tax bill homeowners face with a short sale may be steep enough to walk away instead, and that would push foreclosure rates higher in 2013. for smart is the new rich, i'm christine romans. americans are always ready to work hard for a better future. since ameriprise financial was founded back in 1894, they've been c
if this tax break goes away as part of the so-called fiscal cliff, those homeowners could be taxed on that $95,000 as additional income starting in 2013. >> how much homeowners will owe in taxes on that amount depending on the tax bracket they're in. on average it would be between 20 to $25,000. the banks have an extra incentive to stel short and absorb the loss. under the national mortgage settlement act that went into effect earlier this year, the nation's biggest lenders get a credit...
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Dec 11, 2012
12/12
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if no deal is struck and the fiscal cliff comes, then $600 billion in automatic tax increases and spending cuts will kick in. that could affect a lot of programs in this room, and that will absolutely leave an awful lot of voters, democratic and republican, unhappy. >> tom, you even picked red and green for the season? i'm kidding. tom foreman explaining to us in a way that absolutely no one else can. we have got to figure out a way to bottle this guy. he's awesome. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not be used more than twice a day. people with copd taking advair may have a higher chance of pneumonia. advair may increase your risk of osteoporosis and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking advair. if you're still having diff
if no deal is struck and the fiscal cliff comes, then $600 billion in automatic tax increases and spending cuts will kick in. that could affect a lot of programs in this room, and that will absolutely leave an awful lot of voters, democratic and republican, unhappy. >> tom, you even picked red and green for the season? i'm kidding. tom foreman explaining to us in a way that absolutely no one else can. we have got to figure out a way to bottle this guy. he's awesome. so now i can be in the...
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Dec 10, 2012
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unless congress acts to avert the so-called fiscal cliff. in addition, several key tax benefits are scheduled to expire at the end of the year that will have a direct impact on the pocketbooks of many americans. take a couple with one child living in new york earning $100,000. their tax rate jumps from 25% to 28%. they could be hit by the alternative minimum tax. the child tax credit drops from $1,000 to $500, and payroll taxes could be $2,000 more next year. for a single 25-year-old in michigan who works for time earning $30,000 a year and going to school part time, his tax rate would stay the same at 15%, but he would lose the american education tax credit and have to pay more than $600 in payroll taxes. and even though it's weeks before the changes would take effect, the impact is already being felt because of uncertainty. 401(k) plans are taking a hit. several companies have put a freeze on hiring. and the next thing to watch for, the retail sector which makes most of its money in the final weeks of the year. >> i'm shortening down the l
unless congress acts to avert the so-called fiscal cliff. in addition, several key tax benefits are scheduled to expire at the end of the year that will have a direct impact on the pocketbooks of many americans. take a couple with one child living in new york earning $100,000. their tax rate jumps from 25% to 28%. they could be hit by the alternative minimum tax. the child tax credit drops from $1,000 to $500, and payroll taxes could be $2,000 more next year. for a single 25-year-old in...
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Dec 10, 2012
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time for a fiscal cliff update for you. nothing much going on in public at least as president obama hits the road to campaign for higher tax rates on the rich. the list of pledge signers willing to consider raising taxes on the rich already includes republican senator bob corker of tennessee. not that he or the others you see here really want taxes to go up for anyone, but corker says agreeing to increases for the top 2% shifts the discussion. >> a lot of people are putting forth a theory and i actually think it has merit where you go ahead and give the president the 2% increase that he's talking about, the rate increase on the top 2%, and all of a sudden the shift goes back to entitlements. >> the shift he's talking about is the political pressure to get larger spending cuts which a good many democrats oppose. we'll see how it works out for him because spending cuts are not working out for italy's government. prime minister mario monti announced he would resign after losing support over his austerity moves. a return of pol
time for a fiscal cliff update for you. nothing much going on in public at least as president obama hits the road to campaign for higher tax rates on the rich. the list of pledge signers willing to consider raising taxes on the rich already includes republican senator bob corker of tennessee. not that he or the others you see here really want taxes to go up for anyone, but corker says agreeing to increases for the top 2% shifts the discussion. >> a lot of people are putting forth a theory...
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Dec 12, 2012
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back to the fiscal cliff. we're less than three weeks now from the 1-2 punch of tax increases and government spending cuts. president obama, house speaker john boehner held another phone call last night. here is speaker boehner on that. >> there were some offers that were exchanged back and forth yesterday. and the president and i had a pretty frank conversation about just how far apart we are. >> as we mentioned just last hour, take a look at the graph, these two sides have moved closer on taxes over the last couple of weeks. speaker boehner offered up $800 billion in new tax revenues after insisting on none. the president just this week, he's come down a little bit to $1.4 trillion but still no dice. no deal. cnn's sandra endo is standing by at reagan national airport, across the potomac from washington. so, sandra, if we hit this fiscal cliff, all the spending cuts kick in, what effect will that have on air travel? >> reporter: the big unknown is still how it will affect the everyday traveler. and that is c
back to the fiscal cliff. we're less than three weeks now from the 1-2 punch of tax increases and government spending cuts. president obama, house speaker john boehner held another phone call last night. here is speaker boehner on that. >> there were some offers that were exchanged back and forth yesterday. and the president and i had a pretty frank conversation about just how far apart we are. >> as we mentioned just last hour, take a look at the graph, these two sides have moved...
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as soon as we get past this fiscal cliff, president obama's going to meet with boehner again to talk about debt ceiling. >> any chance john boehner could have trouble with conservatives in the the house? he's signalling a weakness to possibly compromising on tax hikes and he tossed a few tea party types off key committees. could that come back to taunt him, anna? >> you know, i don't think so. i think it will help him. listen, membership has privileges. but leadership has that much more privileges. if you want to be the leader, you have to lead. you have to assert authority. he's had a hard time with his caucus and i think he's trying to move things, get things done. he needs people in his leadership, he needs people on his team, that are actually on his team. not against his team. so i would say to the folks that are not happy with the decisions he's made on membership of committees, you don't like the guy? oust him. but if not, he is the leader and it is his responsibility. but it also his prerogative to choose who he puts in what committees. >> finally, check out this photo. last
as soon as we get past this fiscal cliff, president obama's going to meet with boehner again to talk about debt ceiling. >> any chance john boehner could have trouble with conservatives in the the house? he's signalling a weakness to possibly compromising on tax hikes and he tossed a few tea party types off key committees. could that come back to taunt him, anna? >> you know, i don't think so. i think it will help him. listen, membership has privileges. but leadership has that much...
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Dec 13, 2012
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. >>> if we go off the fiscal cliff, we're all going to pay higher taxes. if republicans and democrats agree to go along with the obama administration's plan, just the wealthiest 2% see that tax increase. billionaire ted turner says that's fine with him. you're a successful person. you have many different ventures. do you think you should pay more as a wealthy american? do you think you should pay more taxes? >> yes. >> how much? >> you know, whatever's reasonable. >> whatever's reasonable? we'll find out. plus why he says war is now a thing of the past. my spinterview with ted turner next. all waking up. connecting to the global phenomenon we call the internet of everything. ♪ it's going to be amazing. and exciting. and maybe, most remarkably, not that far away. we're going to wake the world up. and watch, with eyes wide, as it gets to work. cisco. tomorrow starts here. social security are just numbers thinkin a budget.d... well, we worked hard for those benefits. we earned them. and if washington tries to cram decisions about the future... of these prog
. >>> if we go off the fiscal cliff, we're all going to pay higher taxes. if republicans and democrats agree to go along with the obama administration's plan, just the wealthiest 2% see that tax increase. billionaire ted turner says that's fine with him. you're a successful person. you have many different ventures. do you think you should pay more as a wealthy american? do you think you should pay more taxes? >> yes. >> how much? >> you know, whatever's reasonable....
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Dec 11, 2012
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their parties cannot come to an agreement on the fiscal cliff. president obama and house speaker john boehner met privately sunday in a surprise meeting, but they're not commenting much in public on whether there's been much progress. joining me now is political science professor and political chief correspondent for politics 365, jason johnson, and republican strategist, ron bon john. some say the fact that we're not hearing much of washington is a good sign, and in this case, silence is golden. you guys agree? >> yeah, i definitely do. look, one of the things that we've got to realize here is that the more that this fight takes place in public, the less is being done behind closed doors, because everyone feels that they have to justify the public rhetoric. so i think that we have two silences going on. there's barack obama and john boehner working things out and the republicans realizing that they've got to find a way to negotiate. so silence is golden for christmas season. >> do you agree, ron bonjean? >> yes, i completely agree. i think that
their parties cannot come to an agreement on the fiscal cliff. president obama and house speaker john boehner met privately sunday in a surprise meeting, but they're not commenting much in public on whether there's been much progress. joining me now is political science professor and political chief correspondent for politics 365, jason johnson, and republican strategist, ron bon john. some say the fact that we're not hearing much of washington is a good sign, and in this case, silence is...